LENDINGTREE PROVIDES PRELIMINARY SECOND QUARTER RESULTS AND REVISED 2025 GUIDANCE
CHARLOTTE, N.C., July 23, 2025 /PRNewswire/ -- LendingTree, Inc. (NASDAQ:TREE), operator of LendingTree.com, the nation's leading online financial services marketplace, is providing preliminary revenue, variable marketing margin and adjusted EBITDA results for the second quarter 2025. The company also announces preliminary third quarter 2025 financial guidance and a preliminary update to our full-year 2025 outlook.
"Our business is generating strong financial performance, with all three of our segments producing double-digit year-over-year revenue growth in the second quarter," said Doug Lebda, Chairman and CEO. "A stable economic environment gives us increased confidence that our financial performance will continue to improve in the second half of this year, with our third-quarter forecast running ahead of previous expectations. Management's focus on efficiency is generating impressive operating leverage, and our capital position has improved dramatically in the last year with net leverage falling to 3x at the end of the second quarter. We believe the momentum in our business, combined with a focus on disciplined execution, will drive ongoing improvement in financial results."
Updated Financial Outlook
LendingTree is providing preliminary revenue, variable marketing margin and adjusted EBITDA results for the second quarter of 2025. These preliminary results are unaudited and subject to change.
Second quarter revenue is expected to be $250 million, above the previously disclosed range of $241 - $248 million
Variable Marketing Margin is anticipated to $83.6 million, at the high-end of our previously disclosed outlook of $80 - $84 million
Adjusted EBITDA is anticipated to be $31.8 million, above the previously disclosed range of $29 - $31 million
LendingTree is announcing its preliminary outlook for third quarter 2025*:
Revenue is anticipated to be in the range of $273 - $281 million
Variable Marketing Margin is expected to be in the range of $86 - $89 million
Adjusted EBITDA is anticipated to be in the range of $34 - $36 million
LendingTree is updating its full-year 2025 outlook as follows*:
Revenue is anticipated to be $1 billion to $1.05 billion, compared to the prior range of $955 - $995 million
Variable Marketing Margin is expected to be in the range of $329 - $336 million, versus the prior range of $319 - $332 million
Adjusted EBITDA is anticipated to be in the range of $119 - $126 million, compared to the prior range of $116 - $124 million
*LendingTree is not able to provide a reconciliation of projected variable marketing margin or adjusted EBITDA to the most directly comparable expected GAAP results due to the unknown effect, timing and potential significance of the effects of legal matters and tax considerations. Expenses associated with legal matters and tax considerations have in the past, and may in the future, significantly affect GAAP results in a particular period.
LENDINGTREE'S RECONCILIATION OF NON-GAAP MEASURES TO GAAP
Variable Marketing Expense
Below is a reconciliation of selling and marketing expense, the most directly comparable GAAP measure, to variable marketing expense. See "LendingTree's Principles of Financial Reporting" for further discussion of the Company's use of this non-GAAP measure.
Three Months Ended
June 30,2025
(in thousands)
Selling and marketing expense
$ 176,753
Non-variable selling and marketing expense (1)
(10,285)
Variable marketing expense
$ 166,468
(1)
Represents the portion of selling and marketing expense ...
